Global Frontier Investments LLC Acquires New Holdings in Northern Trust Co. (NASDAQ:NTRS)

Global Frontier Investments LLC acquired a new stake in shares of Northern Trust Co. (NASDAQ:NTRS) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 30,000 shares of the asset manager’s stock, valued at approximately $3,075,000. Northern Trust comprises approximately 0.8% of Global Frontier Investments LLC’s investment portfolio, making the stock its 15th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Northern Trust in the 4th quarter valued at $83,550,000. KBC Group NV boosted its stake in shares of Northern Trust by 201.6% in the 4th quarter. KBC Group NV now owns 963,811 shares of the asset manager’s stock valued at $98,791,000 after purchasing an additional 644,261 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of Northern Trust by 451.9% in the 4th quarter. Cerity Partners LLC now owns 555,631 shares of the asset manager’s stock valued at $56,866,000 after purchasing an additional 454,956 shares in the last quarter. ExodusPoint Capital Management LP purchased a new stake in shares of Northern Trust in the 4th quarter valued at $42,715,000. Finally, JPMorgan Chase & Co. raised its holdings in Northern Trust by 9.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock valued at $386,809,000 after buying an additional 388,692 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Evercore ISI lowered their price target on shares of Northern Trust from $104.00 to $100.00 and set an “in-line” rating for the company in a report on Wednesday, April 23rd. Morgan Stanley lowered their target price on shares of Northern Trust from $136.00 to $132.00 and set an “equal weight” rating for the company in a report on Wednesday, April 2nd. Wells Fargo & Company dropped their price target on Northern Trust from $118.00 to $111.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 23rd. Truist Financial lowered their price objective on Northern Trust from $98.00 to $92.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. Finally, Barclays upped their price objective on Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $110.83.

Northern Trust Trading Down 0.9 %

NASDAQ:NTRS opened at $91.59 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. The firm has a market capitalization of $17.92 billion, a price-to-earnings ratio of 9.37, a price-to-earnings-growth ratio of 1.72 and a beta of 1.10. Northern Trust Co. has a one year low of $79.68 and a one year high of $114.67. The business has a fifty day moving average price of $97.80 and a 200-day moving average price of $102.89.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 EPS for the quarter, topping the consensus estimate of $1.85 by $0.05. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.95 billion. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. Sell-side analysts forecast that Northern Trust Co. will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.00 annualized dividend and a dividend yield of 3.28%. Northern Trust’s dividend payout ratio (DPR) is 27.99%.

Insider Buying and Selling

In related news, COO Peter Cherecwich sold 26,132 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $112.36, for a total value of $2,936,191.52. Following the completion of the transaction, the chief operating officer now owns 26,586 shares of the company’s stock, valued at approximately $2,987,202.96. This represents a 49.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jane Karpinski sold 2,262 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $111.33, for a total transaction of $251,828.46. Following the completion of the transaction, the executive vice president now directly owns 17,236 shares of the company’s stock, valued at $1,918,883.88. This represents a 11.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,335 shares of company stock valued at $3,970,211. Company insiders own 0.77% of the company’s stock.

Northern Trust Profile

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.